Funding to be jointly provided by the Federal and Provincial Governments
Canada’s fisheries are the backbone of many coastal communities and a driving force within the Canada’s economy. At the same time, the seafood sector is a rapidly shifting environment – competition is intensifying and consumers are looking for sustainability and quality.
Today, the Government of Canada and the Province of Nova Scotia are making strategic investments in the fish and seafood sector through the Atlantic Fisheries Fund – to help ensure the sector can continue to meet these changing demands and to capitalize on the industry’s tremendous growth potential.
The funding – with a combined total contribution of more than $44 million – will support 11 projects focused on the adoption of new technology and partnerships that will improve the effectiveness and sustainability of the fish and seafood sector. The funding will enable these local organizations to provide high quality seafood and to preposition their organizations for a successful return to regular business in a post COVID-19 world.
“Nova Scotia’s seafood quality is world-renown and this support for our fishery sector will go to enhance equipment, innovation, productivity, and COVID-19 protections. It will help our seafood industry remain safe and sustainable, and provide top quality seafood products to the world. We are excited to join with our federal partners, DFO, in these important investments.” The Honourable Keith Colwell, Nova Scotia Minister of Fisheries and Aquaculture
Funding these organizations will benefit local and regional economies in Nova Scotia now and in the future. The contribution comes from the $400 million Atlantic Fisheries Fund, jointly funded by the federal and provincial governments, and focuses on increasing opportunities and market value for sustainably sourced, high-quality fish and seafood products from Atlantic Canada.
The Atlantic Fisheries Fund will continue to invest in projects over the seven-year life of the program. The commercial fisheries and aquaculture industry, Indigenous groups, universities, academia, industry associations and organizations, including research institutions, may apply.